Update on SpencerSpencer used the previous loan to purchase maize to sell. He is 39 years old and married with three children who are between 7 and 14 years old. The family is living in their own semi-permanent house in Hoima, Uganda. His goal is to build a permanent house for his family and to educate his children. Spencer is a hard-working man and for the last six years, he has been operating a produce business. He started by farming and then saved to start the business, but he faces a challenge of poor roads and high inflation. He now needs another loan to buy more maize to sell as he has very many orders to deliver maize to schools.
Previous Loan DetailsSpencer is 38 years old and is married with three children aged 6-13. They are living in their own semi-permanent house in Katikara, Uganda. His goal is to build a permanent house for his family and to educate his children. Spencer is a hard-working man and for the last five years he has been ... More from Spencer's previous loan »
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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